Rising Rents in Exeter Amidst Growing Demand

According to the latest report from the Office for National Statistics, the average monthly private rent in Exeter rose by 6.5 per cent between 2024 and 2025. This highlights the growing demand for housing in the city, with various factors playing a part in that.

For property owners in Exeter, there’s a huge opportunity to benefit from this growth. Along with becoming a potential renter to the influx of people moving here, some homeowners may want to sell their homes to landlords.

What’s Driving the Increase?

The spike in average monthly rent in Exeter to around £1,268 could be attributed to a range of reasons. The biggest factor is obviously down to supply and demand, with landlords realising that they can up prices due to the increase in people wanting to move to the city. Exeter’s location is highly desirable for a lot of people in the UK, as it’s a great location with good transport links and a thriving university.

The rise of remote work could have played a big part in the influx of people moving here, as there’s a large demographic coming from London. According to a piece in Forbes, around 63 per cent of workers in the UK work from home at least some of the time. As all these people leave the office and spend more time at home, they’re looking for better places to live.

What Does This Mean for Property Owners?

With rents rising, it’s a perfect time for property owners in Exeter to take advantage. For people with spare properties that aren’t renting them, it could be a good time to consider getting them on the market.

There’s also going to be an increasing demand for buyers in the city, as other landlords will want to get in on these booming rental prices. For anyone wanting to go down this route, online house sale services like sellhousefast.uk promise a cash offer within days and offers a sale within seven days, as an alternative to traditional estate agent processes. People selling in Exeter will likely get a good price thanks to the current demand, as detailed by the rise in rental prices.

However, there are also some challenges for homeowners thinking of renting their properties to consider. One of the pitfalls of higher rental prices is that a lot of tenants will always be looking for something cheaper, and this can lead to high turnover. There could also be potential government regulations and tax changes on the horizon at any given moment, which may have an effect on future profitability.

What’s Next for Exeter’s Rental Market?

In terms of future outlook, there’s no reason to argue that the rental prices in Exeter won’t continue to rise. The city will always have a lot of pulling power, not only because of its prime location, but also because of the plans for sustainable projects in the city.

There’s no doubt that this is a good time to be a property owner in Exeter. Along with taking advantage of the higher rental prices, it’s a good opportunity to sell houses and flats. While rental prices are stagnating in some areas of the UK, the growth here highlights that it’s a great place to live.